HomeNEWSFG disburses N300bn to farmers

FG disburses N300bn to farmers

President Muhammadu Buhari says N300 billion has been disbursed to farmers while 1.6 million poor and vulnerable households are currently benefiting from the Conditional Cash Transfer programme.

The president revealed this while virtually declaring open the 14th Annual Banking and Finance Conference of Chartered Institute of Bankers of Nigeria in Abuja on Tuesday.

According to him, some of the various initiatives embarked upon to boost agricultural trade in Nigeria include the Anchor Borrowers Programme.

He stated that the Central Bank of Nigeria had made more than N300 billion available to over 3.1 million smallholder farmers of 21 different commodities.

He said the commodities included Rice, Wheat, Maize, Cotton, Cassava, Poultry, Soybeans, Groundnut, Fish, cultivating over 3.8 million hectares of farmland.

He added that the National Social Register of poor and vulnerable Nigerians had 32.6 million persons from seven million poor and vulnerable households identified, imploring bankers to play a stronger role in improving livelihoods.

President Buhari said the National Social Investment Programme was the biggest in Sub-Sahara Africa and one of the largest in the world.

To further strengthen recovery and enable more Nigerians, President Buhari said, last year, he approved the establishment of InfraCo Plc, a world-class infrastructure development vehicle, wholly focused on Nigeria, with combined debt and equity take-off capital of N15 trillion and are managed by an independent infrastructure Fund Manager.

Buhari also stated that the Solar Power Naija project was launched in April 2021 with the aim of delivering five million off-grid solar connections to Nigerian households, adding that the Rural Electrification Agency announced the planned deployment of solar-powered grids to 200 Primary Health Centres and 104 Unity Schools nationwide.

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